Charles Hoskinson, founder of Cardano (CRYPTO: ADA) and co-founder of Ethereum (CRYPTO: ETH), predicted that Bitcoin (CRYPTO: BTC) could soar between $250,000 and $500,000 in the next 12 to 24 months, citing growing institutional investment and emerging decentralized finance opportunities.
What happened: In a recent livestream from Colorado, Hoskinson emphasized the transformative potential of Bitcoin, describing it as more than just a Cryptocurrency, but as a strategic asset for governments and institutions around the world.
Hoskinson has deep roots in the cryptocurrency ecosystem and highlighted the evolution of Bitcoin from a “dormant” project to a potentially revolutionary financial technology.
The cryptocurrency veteran believes that the Bitcoin ecosystem could see unprecedented growth, especially with the development of DeFi layers that could dramatically expand its utility.
He stated that governments are considering Bitcoin as a strategic reserve asset, drawing parallels to gold’s historical role as a store of value. Hoskinson predicted that “Bitcoin-based DeFi will surpass all other ecosystems in 24 to 36 months.”
In a keynote speech at a Bitcoin conference in Nashville, Tennessee, last July, President-elect donald trump pledged to establish the United States as the “crypto capital of the planet” and indicated plans to create a strategic Bitcoin reserve using the cryptocurrency held by the government.
See also: The next mega rocket of cryptocurrencies? Analyst Predicts Incredible 2725%-6600% Rise for This Coin
Why is it important: The prediction comes amid a volatile cryptocurrency landscape. Recent data shows that Bitcoin has seen significant price fluctuations, with long-term holders dumping 728,000 coins in the last 30 days—the biggest sale since April.
Despite the short-term volatility, market analysts remain cautiously optimistic. Haider RafiqueGlobal Marketing Director of the stock market OKXnoted the significant profit potential for investors, with the average holding price around $30,000.
Although he is bullish on Bitcoin, Hoskinson remains committed to Cardano’s role in the broader cryptocurrency ecosystem. He positioned Cardano as a “spiritual successor to Bitcoin” and emphasized the importance of creating hybrid applications that integrate Bitcoin functionality, showcasing its continued innovation in the Blockchain space.
Price Action: Bitcoin, the leading cryptocurrency by market cap, is currently trading at $93,201.11. The price is up 1.74% in the last 24 hours and 0.63% in the last seven days, according to data from Benzinga Pro.
For more updates on this topic, activate Benzinga Spain notifications or follow us on our social networks: x and Facebook.
Receive exclusive information on market movements 30 minutes before other traders
Benzinga Pro’s 14-day free trial, available in English, gives you access to exclusive information so you can receive useful trading signals before millions of other traders. CLICK HERE to start your free trial.
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
